A broad measure of prices across the economy, known as the gross domestic product deflator, has declined for nine straight quarters – its longest streak in decades.

The average for 30-year, fixed loans was 6.63 per cent, down from 6.72 per cent last week, Freddie Mac said.

Private market assets have traditionally been excluded from 401(k)s, even as they’ve been embraced by pension funds and university endowments, because their high fees, lack of transparency,

A more dovish Fed would likely be negative for the US currency, even after it has appeared to find its footing in recent weeks following a rough first half of the year.

The US$550 billion investment framework will be a combination of investments, loans and loan guarantees provided by financial institutions backed by the Japanese government

Those reductions hit savers hard as banks and building societies were quick to respond by lowering rates paid on customer deposits.

Authorities have been alarmed over recent foreign exchange moves, after the yen fell to four-month lows against the US dollar.

"Given the receding uncertainty, by definition it can be said that the likelihood of Japan durably achieving 2 per cent inflation has heightened," Uchida told a news conference.

The RBA surprised markets by holding interest rates steady at the meeting in a rare split of six to three, saying the majority of the board wanted to wait for more information

Mr Powell’s term as Fed chair runs through May 15, 2026, and he has repeatedly said he will not leave the post early. Eight months would mean Mr Powell would remain in place until mid-March;

A majority continues to expect the last quarter-point reduction in the deposit rate, to 1.75 per cent, will come in September after a pause next week.

The last time the Fed cut rates was in December 2024, when it trimmed its policy rate by 25 basis points.